RNW
ReNew Energy Global Plc

ReNew Energy Global PlcRNW

Utilities · Utilities - Renewable
6.93USD
+0.00%
Nov 09, 2026
RNW overview ready
Utility-Scale Renewable Power Developer and Operator in India
Direct owner-operator, developer and builder of Indian renewable-power infrastructure, with complementary solar-component manufacturing and growing storage capacity.
Primary theme is lagging
Power / Grid is lagging (-16.9pp vs SPY over 21 sessions; 8 of 32 members ahead of SPY).
No clear price read
Longer-term context reads early trend, with a near-term setup of daily advance.
Fair valuation
The price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.
Unremarkable fundamentals
Primary risk
Regulatory and policy changes impacting renewable energy incentives.
Market Nov 6Price action Nov 8Research Oct 18

Conviction Level

PriceAction7.1BusinessPerformance—BusinessQuality—Valuation6.4ThemeMomentum1.0Business Performance not yet available.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Power / GridLagging
vs SPY
−16.9pp
Theme return
−21.9%
Beating SPY
8 of 32
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

No clear price read
Longer-term context reads early trend, with a near-term setup of daily advance.
EntryBreakout + retest

Price broke through the weekly SMA200, then retested it constructively and recovered — a fresh structural entry rather than a chase.

Key Financials

Market Cap
$2.5B
Avg Volume (60D)
1.6M
60 sessions
Revenue Growth YoY
+11.3%
Trailing twelve months
Gross Margin
+57.5%
Trailing twelve months
Operating Margin
+42.4%
Trailing twelve months
Distance from 200DMA
+15.4%
P/E
18.7x
EV / Sales
6.4x
Market metrics as of Nov 8, 2026

Business Performance

Business Quality

Not assessed

Not assessed — the company files under a regime the financial record does not cover yet.

Fundamentals & Valuation

ReNew Energy Global Plc has a Fair valuation stance because the price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced. It trades at 6.4x revenue, broadly in line with what the business currently supports.

Company Research

Thesis
Direct owner-operator, developer and builder of Indian renewable-power infrastructure, with complementary solar-component manufacturing and growing storage capacity. RNW is a direct, operating exposure to India’s renewable-power expansion rather than a generic clean-energy adjacency.
Opportunity
Moderate opportunity
India’s rapid buildout of utility-scale solar, wind, hybrid projects and storage-backed clean-power supply to meet rising electricity demand, policy targets, corporate decarbonization demand and energy-security objectives.
Key risk
Regulatory and policy changes impacting renewable energy incentives.

Economic classification

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Business & Markets

Utilities · Utilities - Renewable
What they do

ReNew Energy Global Plc develops, owns, and operates utility-scale renewable power projects in India, primarily wind and solar, and manufactures related power equipment. It also provides operation and maintenance, consultancy, and software services to support its renewable energy infrastructure.

How it earns

The company generates revenue primarily through the sale of renewable power and power equipment, as well as project-based services including operation, maintenance, and consultancy.

Products & services
Utility-scale wind and solar power generation
Corporate renewable energy projects
Manufacturing of solar modules and power equipment
Operation and maintenance services
Consultancy and software services
Customers & end markets
Indian utilities and power distributors
Corporate clients seeking renewable energy
Government and private sector infrastructure projects
Market position

Leader in Indian renewable power generation with integrated capabilities in project development, ownership, and equipment manufacturing.

Demand drivers
Medium cyclicality

Subject to regulatory policy changes, project development cycles, and fluctuating power demand.